Swedbank AB Raises Stock Holdings in Dover Co. (NYSE:DOV)

Swedbank AB grew its stake in Dover Co. (NYSE:DOV) by 76.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,053 shares of the industrial products company’s stock after acquiring an additional 6,529 shares during the quarter. Swedbank AB’s holdings in Dover were worth $2,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Dover in the first quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new position in Dover in the third quarter valued at about $33,000. McClarren Financial Advisors Inc. boosted its holdings in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new position in Dover in the second quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Dover in the second quarter valued at about $41,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 54.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Dover Stock Up 0.0 %

Shares of Dover stock opened at $206.44 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $194.06 and its 200-day simple moving average is $185.76. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.76 and a beta of 1.22. Dover Co. has a twelve month low of $137.73 and a twelve month high of $208.26.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, November 29th. Dover’s payout ratio is 18.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOV. Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays increased their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.